Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) Sees Unusually-High Trading Volume – Time to Buy?

Capital Group U.S. Multi-Sector Income ETF (NYSEARCA:CGMS) shares saw unusually-strong trading volume on Thursday . Approximately 1,636,374 shares traded hands during trading, an increase of 64% from the previous session’s volume of 998,024 shares.The stock last traded at $27.40 and had previously closed at $27.34.

Capital Group U.S. Multi-Sector Income ETF Price Performance

The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 10.71 and a beta of 0.29. The stock’s 50-day moving average is $27.49 and its 200 day moving average is $27.59.

Institutional Investors Weigh In On Capital Group U.S. Multi-Sector Income ETF

A number of hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC lifted its position in Capital Group U.S. Multi-Sector Income ETF by 30.8% in the fourth quarter. LPL Financial LLC now owns 15,366,839 shares of the company’s stock valued at $424,432,000 after purchasing an additional 3,616,255 shares during the period. Morgan Stanley lifted its position in Capital Group U.S. Multi-Sector Income ETF by 2.8% in the fourth quarter. Morgan Stanley now owns 6,699,298 shares of the company’s stock valued at $185,035,000 after purchasing an additional 183,781 shares during the period. Wells Fargo & Company MN lifted its position in Capital Group U.S. Multi-Sector Income ETF by 44.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,404,827 shares of the company’s stock valued at $149,281,000 after purchasing an additional 1,658,572 shares during the period. Raymond James Financial Inc. lifted its position in Capital Group U.S. Multi-Sector Income ETF by 19.9% in the fourth quarter. Raymond James Financial Inc. now owns 5,202,259 shares of the company’s stock valued at $143,686,000 after purchasing an additional 863,369 shares during the period. Finally, UBS Group AG lifted its position in Capital Group U.S. Multi-Sector Income ETF by 25.2% in the fourth quarter. UBS Group AG now owns 4,413,157 shares of the company’s stock valued at $121,891,000 after purchasing an additional 888,212 shares during the period.

About Capital Group U.S. Multi-Sector Income ETF

The Capital Group U.S. Multi-Sector Income ETF (CGMS) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund seeks a high level of current income from an actively managed fund of US corporate debts with varying maturities and credit quality. CGMS was launched on Oct 25, 2022 and is managed by Capital Group.